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Iran has granted Venezuela a $500 million line of credit, according to the Saudi website, Aawsat.

The line of credit is part of a larger framework of six economic cooperation agreements with Venezuela.

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Back in 2012, when Iran was banned from SWIFT banking transactions, which could have actually kept it out of much of the international markets and made the sanctions even more effective, Iran easily bypassed the problem with an alternative, rogue financial system it help set up with some South American countries, including Venezuela.

The system had already been set up by Iran in anticipation of the SWIFT ban.

The Iranians are demanding an immediate lifting of sanctions and freeing of their assets as part of the nuclear deal with President Obama.

Sometimes it appears the Iranians are always 2 steps ahead of the U.S.

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24 COMMENTS

  1. so Venezuela can pay China right, lol! , “Beijing has so far been happy to oblige Maduro. Since 2007, China has advanced Venezuela about $46 billion in loans repayable in oil, of which about $20 billion has been repaid. The latest loan agreement was in July, when Chinese President Xi Jinping visited the country and pledged $5.69 billion in credits.” http://www.bloomberg.com/bw/articles/2014-12-12/with-oil-prices-falling-venezuela-needs-china-more-than-ever

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